Ogun State House of Assembly has approved Governor Ibikinle Amosun’s request, to access the N14.16 billion Federal Government budget support facility programme, for the payment of workers and pensioners entitlements, as well as severance of past political office holders in the state.
The house approved the loan request, after extensive debate on the importance of the facility to the State Government, in meeting its financial obligation on a monthly basis.
The House Majority Leader, Adeyinka Mafe opening the debate on the loan request, during the resumed plenary of the assembly in Abeokuta said, the single interest rate offered by the presidency, was most suitable for the economy of the state, as it would release more funds for capital projects in the budget.
He said the loan would be released in tranches, with the N1.4billion in first month of disbursement and N1.3billion in subsequent months.
The House Minority Leader, Olawale Alausa, however called for the review of the state debt profile, and monthly internally generated revenue, to determine the capability of the state government to pay back the loan facility, in order not to put the people of the state in financial bondage.
Other lawmakers who supported the approval of the request, included, Idowu Olowofuja, Jemili Akingbade, Ganiyu Oyedeji, Mrs Yetunde Sogbein, Olusola Sonuga , Olusola Bankole, Aina Akinpelu, Adebiyi Adeleye, Tunde Sanusi, Olayiwola Ojodu, Dare Kadiri and Rasaq Oduntan.